Although the price of Bitcoin (BTC) continues to hover around $30,000, Industry experts point out that the long-term bullish.
To put this in perspective, Alex Mashinsky, CEO and co-founder of Celsius, a centralized cryptocurrency lending platform, told Cointelegraph Miami’s Bitcoin 2021 He believes that Bitcoin will reach $160,000 this year, or maybe even lower. “We haven’t seen the highs of 2021,” Masinsky said.
Mashinsky further stated that there is bound to be a correction in the cryptocurrency market. The following is Bitcoin recently hit an all-time high of more than $63,000:
“When you go too high and too fast, you will definitely make corrections. You can see my tweets in March and February saying “We are going to crash, we are going to make corrections.” I predict $30,000. Bit The coin is like a spring-we stretch it too long, we exert too much leverage. There are too many greedy people.”
“Elon Musk is manipulating the market”
In addition to discussing the price of Bitcoin, Masinsky also commented Elon Musk’s recent tweet about BitcoinAccording to Masinsky, Musk is not helping the crypto community, but manipulating the market. Therefore, he pointed out that Musk is just a “tourist” in the encryption field.
Masinsky also pointed out Tesla accepts Bitcoin payments Will benefit Musk, but not consumers:
“If the richest person in the world is willing to exchange bitcoin for a Tesla, you have to ask yourself, who got a bargain? The moment you buy a Tesla, its value is lower than the price you paid. , But Bitcoin will continue to appreciate. So this deal is good for Elon, but bad for you.”
Celsius transfers business operations to the U.S.
Celsius Chief Revenue Officer Roni Cohen Pavon (Roni Cohen Pavon) further told Cointelegraph that Celsius will become mobile In the next few months, its business will be transferred from the United Kingdom to the United States.
According to Cohen Pavon, the transfer to the United States was caused by the most recent Regulatory uncertainty for crypto companies in the UK“Our conclusion is that the UK is not the most stable place in Celsius in terms of regulatory and geopolitical views,” he said.
Although Celsius has had physical offices in the United States since 2019, Cohen Pavon explained that Celsius will now become a limited liability company or LLC. “There is no change in our services-we are now a limited liability company, not Celsius Networks Limited. I believe that the transition as a U.S. entity will be completed in early or mid-August.”
Watch the entire interview Here!